CVS will buy Aetna, one of the country's largest health insurers, for $69 billion, the companies announced Sunday.
Aetna insures around 22 million people, while CVS runs more than 9,700 drugstores and 1,100 walk-in clinics. The deal, which must be approved by antitrust regulators, has CVS Health Corp. paying $207 in cash and stock for each share of Aetna Inc. The acquisition could lead to CVS turning its stores into places where customers can do more than just pick up their prescriptions and basic household items, like have their blood drawn or meet with a nurse practitioner.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
RFK Jr.: How to destroy vaccinationFeature Robert F. Kennedy Jr. replaces all 17 members of the federal Advisory Committee on Immunization Practice
-
The god in the machineFeature An AI model with superhuman intelligence could soon become reality. Should we be worried?
-
ICE: Targeting essential workersFeature After a brief pause, the Trump administration resumes its mass deportation plan
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
'Wrench attacks' are targeting wealthy crypto mogulsThe Explainer The attacks are named for physical coercion that can be used to gain crypto passwords
-
Trump is trying to jump-start US manufacturing. Is it worth it?Today's Big Question The jobs are good. The workers may not be there.
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
The end of WeightWatchers?Talking Point The diet brand has filed for bankruptcy in the US as it struggles to survive in era of weight-loss jabs
-
Visa wants to let AI make credit card purchases for youThe Explainer The program will allow you to set a budget and let AI learn from your shopping preferences
-
A newly created gasoline giant in the Americas could change the industry landscapeThe Explainer Sunoco and Parkland are two of the biggest fuel suppliers in the US and Canada, respectively
